Anterix (NASDAQ:ATEX) Shares Gap Down – Here’s Why

Anterix Inc. (NASDAQ:ATEX)’s share price gapped down before the market opened on Thursday . The stock had previously closed at $33.62, but opened at $32.28. Anterix shares last traded at $33.01, with a volume of 31,957 shares.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Craig Hallum raised Anterix to a “strong-buy” rating in a research note on Wednesday, October 9th. JPMorgan Chase & Co. boosted their target price on Anterix from $60.00 to $61.00 and gave the company an “overweight” rating in a research note on Thursday, August 8th.

Anterix Price Performance

The stock has a market capitalization of $612.73 million, a price-to-earnings ratio of -27.56 and a beta of 0.85. The business has a 50 day simple moving average of $35.29 and a 200-day simple moving average of $35.49.

Institutional Trading of Anterix

A number of institutional investors have recently modified their holdings of ATEX. Allspring Global Investments Holdings LLC bought a new stake in shares of Anterix in the second quarter valued at about $28,000. Motco bought a new stake in shares of Anterix in the first quarter valued at about $44,000. nVerses Capital LLC bought a new stake in shares of Anterix in the third quarter valued at about $45,000. Meeder Asset Management Inc. bought a new stake in shares of Anterix in the third quarter valued at about $58,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Anterix in the second quarter valued at about $92,000. 87.67% of the stock is currently owned by institutional investors.

About Anterix

Anterix Inc operates as a wireless communications company. The company focuses on commercializing its spectrum assets to enable the targeted utility and critical infrastructure customers to deploy private broadband networks and innovative broadband solutions. It holds licensed spectrum in the 900 MHz band with coverage throughout the United States, Alaska, Hawaii, and Puerto Rico.